If phishing scams have been around for many years, and millions of pesos have been lost from banks and depositors by reason of breached account details, why is it that there many are still, and will still be, victimized by the same modus operandi?

As noted in the primer on the New Generation Currency, Philippine banknotes contain design elements that pay tribute to Filipinos who played significant roles at various moments of our nation’s history. World heritage sites and iconic natural wonders of the Philippines are also proudly highlighted. These are the design highlights for each of the banknotes, reproduced from the documents issued by the central Bangko Sentral ng Pilipinas:

To introduce the new set of Philippine currency notes and coins, the Philippine central bank, the Bangko Sentral ng Pilipinas (BSP), released a primer on the New Generation Currency (NGC) Program of the Philippines. We are reproducing the primer in full to disseminate the information and for easy reference of the public.

The public is glued to their TV sets, following the blow-by-blow coverage of the impeachment proceedings against Chief Justice Renato Corona in the Senate. The proceedings being legal in nature, new terms and concepts are being thrown around like pancakes. Recently, it’s the AMLA. Continue reading →

There seems to be a consensus that certain practices of some credit card collection agencies go beyond what is fair and reasonable, something which is officially recognized when no less than the Bangko Sentral ng Pilipinas issued the rules prohibiting certain unfair collection practices. For a change of perspective, put yourself into the shoes of credit card companies and ask yourself what would you do under the following circumstances: Continue reading →

There are a number of good reasons in favor of having and using a credit card. It’s like owning a gun – it’s really a matter of how you use it. I know, not because I own a gun, but because I’ve handled an international credit card institution for years. Continue reading →

In an Administrative Order recently issued by the Department of Trade and Industry (DTI), stores are now prohibited from imposing any extra charges, on top of the cash price, for purchases of consumer goods or services using credit card, automated teller machine (ATM) cards and debit cards. In other words, stores cannot impose any extra charges on top of the cash price for purchases of goods or services paid via credit card. Violators face a penalty of imprisonment of up to six months. This is provided in Department Order No. 10 (series of 2006), which takes effect 15 days from publication. (See also: Credit cards – How to Stay Ahead of Runaway Credit Card Debt)

The New Generation Currency (NGC) series of banknotes contain a number of design highlights and security feature. As noted in the primer on the NGC, there are four levels of security. Level 1 security features can be easily recognized by the public without use of special instrument. These are the “look, feel, tilt” elements in the notes such as watermark, security thread, security fibers and others.